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New U.S. crypto tax reporting rules are creating unnecessary paperwork for millions of retail traders, according to Coinbase.

“Frankly, [small retail] transactional flow is so small, I just don’t know why we’re spending efforts as a country focused on them,” Coinbase Global (NASADAQ: COIN) Vice President of Tax Lawrence Zlatkin told CoinDesk in an interview. “I just think it just does a disservice to people when you’re trading 50 bucks, let’s say, that you get a form like this and you have to report gains or losses.”

The comments come as the IRS rolls out a new reporting framework for digital assets. The rules require…